Enzymes Market size to exceed $10.7bn by 2024

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Enzymes Market size to exceed 10.7bn by 2024
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Enzymes Market

• Europe animal feed enzymes market size was over
  USD 270 million in 2015. Rising beef consumption
  in Russia, France, and Germany along with growing
  cattle feed demand should fuel regional growth.
• Detergent applications may observe significant
  gains and surpass USD 2 billion in value by 2024.
  Rise in per capita income has result in
  increasing consumer expenditure on detergents and
  food products.
• Carbohydrase's led the product segment and valued
  at over USD 2 billion in 2015. The product used
  to catalyze carbohydrates into fructose and
  glucose for food beverages application.  

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Continued...

• APAC may observe notable growth, increasing at
  over 9 CAGR. High population density along with
  increasing beef import particularly in China and
  South Korea should propel regional demand.
• Global enzymes market share is consolidated as
  top three companies accounted for over 60 of the
  overall industry demand. Novozymes, Danisco, and
  DSM are major industry players. Collaborations
  and acquisitions are among key strategies to
  strengthen company position. Other participants
  include AB Enzymes, BASF, Roche, Chr. Hansen, and
  ADM.

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U.S. Enzymes market size, by product, 2013-2024
(USD Million)

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360 Analysis

• Product Analysis
• Carbohydrase's market size exceeded USD 2 billion
  valuation in 2015. It is a selective enzyme,
  which catalyzes the carbohydrate to starch
  conversion process. Key applications include
  converting carbohydrates into sugar syrups, such
  as fructose and glucose for pharmaceutical and
  food beverages industry.
• Regional Analysis
• Europe, with dominant Germany enzymes market
  size, surpassed USD 1 billion valuation in 2015.
  The Russian Federation particularly may witness a
  significant increase in meat production. In
  addition, an increase in cattle feed demand and
  its hybrid variants may contribute to regional
  industry growth.
• Competitive Market Share
• Global enzymes market share is consolidated in
  nature with Novozymes, Danisco, and DSM
  dominating the overall industry demand. Novozymes
  is the largest manufacturing company and offers
  various products for household care, food
  beverages, bioenergy, agriculture feed, and
  technical pharmaceuticals applications. The
  company puts in massive efforts to retain its
  market share by continuous innovation and RD.

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